Specufestors pulling back from Syd/Melb bubbles

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By Leith van Onselen

Australia’s speculator frenzy has begun to moderate, according to today’s Lending Finance data for August, released by the ABS.

As shown below, the annual value of investor loans in New South Wales (read Sydney) has flattened out, whereas Victoria (read Melbourne) – the second hottest market – continues to rise slowly. By contrast, investor loans in the other major jurisdictions are either going sideways or in retreat:

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.